Nifty seems to have completed two segments of up move from the low reached on Wednesday morning. This can be viewed as either a-b-c or 1-2-(i)-? according to Elliott wave analysis.
Following is the 5 min chart of Nifty with Elliott Wave labels.
8521 8497 … is 38%-50% retrace of the last rise from …… 8396 to 8598
80% is – 8436
If strength to return again, it should be around 8521 8497
Weakness gets confirmed Below 8497 OR 8436
Following is the 5 min chart of Nifty with Elliott Wave labels.
8521 8497 … is 38%-50% retrace of the last rise from …… 8396 to 8598
80% is – 8436
If strength to return again, it should be around 8521 8497
Weakness gets confirmed Below 8497 OR 8436
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